cpeditor
ARK Invest Takes Profits as Circle Shares Soar Nearly 5x From IPO
Cathie Wood’s ARK Invest offloaded a significant portion of its Circle (CRCL) holdings on Monday, cashing out $51.8 million as the stablecoin issuer’s shares continued their meteoric rise.
According to ARK’s daily trading disclosure, the firm sold a combined 342,658 shares across three of its ETFs:
- ARKK (ARK Innovation ETF) sold 196,367 shares
- ARKW (Next Generation Internet ETF) trimmed 92,310
- ARKF (Fintech Innovation ETF) offloaded 53,981
The sale comes as Circle’s stock surged 13% on Monday to close at $151.06—a sharp jump from its $31 IPO price on June 5. The company, which issues the USDC stablecoin, has now gained on all but two trading days since going public.
ARK had initially acquired $373 million worth of Circle shares on the company’s debut, signaling strong early conviction.
The firm has also recently reduced exposure to other crypto-related equities, including Coinbase (COIN) and Robinhood (HOOD), as part of broader portfolio rebalancing during a strong market run for digital asset-linked stocks.
